The solution was simply to adjust the SHMMAX kernel parameters. Basically, edit /etc/sysctl.conf and modify the following:

OLD: kernel.shmmax = 4294967296NEW: kernel.shmmax = 2147483648

SHMMAX defines the maximum size (in bytes) of a single shared memory segment that a Linux process can allocate in its virtual address space. 32-bit Red Hat Enterprise Linux supports shared memory segments up to 4GB.

Per the Red Hat Knowledgebase:

If SHMMAX is set to a value larger then or equal to 4294967296 bytes (4 GB) on a 32-bit system, SHMMAX will be set to 0 bytes since it wraps around the 4 GB value. This means that SHMMAX should not exceed 4294967295 (one byte below 4 GB) on a 32-bit system.